Villanova Investment Management Co LLC Acquires New Shares in CONMED Corporation $CNMD

Villanova Investment Management Co LLC acquired a new position in shares of CONMED Corporation (NYSE:CNMD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 58,749 shares of the company’s stock, valued at approximately $2,763,000. CONMED accounts for 1.9% of Villanova Investment Management Co LLC’s holdings, making the stock its 16th biggest holding. Villanova Investment Management Co LLC owned 0.19% of CONMED as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNMD. CWM LLC increased its holdings in shares of CONMED by 352.0% in the second quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after acquiring an additional 616 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of CONMED in the 2nd quarter valued at approximately $48,000. State of Wyoming bought a new stake in CONMED during the 3rd quarter worth approximately $52,000. GAMMA Investing LLC increased its stake in CONMED by 14.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock worth $83,000 after purchasing an additional 228 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in CONMED during the 3rd quarter worth approximately $167,000.

CONMED Trading Up 1.4%

Shares of NYSE:CNMD opened at $45.18 on Monday. The company’s 50-day moving average price is $41.23 and its two-hundred day moving average price is $45.41. CONMED Corporation has a one year low of $35.37 and a one year high of $64.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.14 and a quick ratio of 1.01. The stock has a market capitalization of $1.39 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The business had revenue of $373.20 million for the quarter, compared to the consensus estimate of $366.88 million. During the same quarter in the previous year, the business earned $1.34 earnings per share. CONMED’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that CONMED Corporation will post 4.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Wells Fargo & Company boosted their price target on CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. dropped their target price on CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.83.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.